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This Tata Group stock clocked 74% returns in 3 months, hit all-time high today

This Tata Group stock clocked 74% returns in 3 months, hit all-time high today

On April 29, 2021, the company reported a consolidated net profit of Rs 57 crore for Q4 FY21 compared to Rs 24 crore for the corresponding quarter of the previous year, an increase of 139 per cent

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Tata Coffee share rose over 4 per cent to hit an all-time high of Rs 185.80 in today's intraday session on BSE. The stock has gained 157.37 per cent in one year and risen 75 per cent since the beginning of this year.

The stock opened 1.65 per cent higher at Rs 180.95 against the previous close of Rs 177.95. Tata Coffee share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.

As per share price history, Tata Coffee share on BSE closed at Rs 163.30 on May 12, 2021. In a week, the subsidiary company of Tata Consumer Products has delivered nearly 12 per cent returns. Market cap of the firm rose to Rs 3,420.70 crore.

On April 29, 2021, the company reported a consolidated net profit of Rs 57 crore for Q4 FY21 compared to Rs 24 crore for the corresponding quarter of the previous year, an increase of 139 per cent.

Consolidated total income increased 17 per cent to Rs 612 crore for the quarter ended March 2021, compared to Rs 523 crore for the corresponding quarter of the previous year.

For FY21, the company posted a consolidated net profit of Rs 212 crore compared to Rs 141 crore in the previous year, up 50 per cent. Consolidated total income increased 15 per cent to Rs.2,289 Crore compared to Rs.1987 Crore for the previous year.

"Despite challenging conditions, our overall performance has been strong. Our India Instant Coffee exports for the quarter have been higher despite logistics issues and a fresh wave of lockdowns in Europe, which are expected to ease in the near future. We have seen stable performances across key geographies. Our Vietnam operations continue to be robust and the order pipeline continues to be healthy," said Mr. Chacko P. Thomas, Managing Director, Tata Coffee Limited.

"We see a slowdown in demand in some geographies in the short-term, especially in the 'Out-of-Home' consumption due to the COVID 19 pandemic, and we are also keeping a close watch on any other possible impacts of the second wave of this pandemic. The Company continues to drive aggressive cost optimization initiatives across its operations," he added.